12 Easy Ways to Change Your Money Mindset to Abundance
What you believe about money and the energy you give it will influence your financial success in life. If you have a don’t care or don’t know attitude, you can expect negative spending habits and little to no savings or investments. Change your money mindset to a positive and informed one to influence healthy money habits.
What Is a Money Mindset?
Your beliefs and attitude about money define your money mindset. It influences how you handle money, from spending to saving and managing your debts.
A money mindset is typically established early on in life and is shaped by how our parents discuss and handle money, cultural influences, and our experiences with money. Unfortunately, that translates to having a toxic or negative money mindset for many.
Reasons Why You Should Change Your Money Mindset
Several reasons exist for motivating a change in your mindset about money. Are you stressed and anxious about money most (all) of the time? It manifests into illness and disease. Do you continue to make poor financial decisions despite knowing they aren’t healthy? Sometimes, sheer willpower isn’t enough to stop spending money how you’ve always spent it.
How to Change Your Money Mindset
It’s never too late to embrace change by cultivating a positive and healthy money mindset. The first step to changing your financial mindset is acknowledging the need for a change. So kudos for seeking out that information. Here are several helpful ways to embrace a positive mindset about money.
1. Let Go of Beliefs That Are Limiting
Believe that you can be wealthy. You have to believe in that possibility before you can achieve its reality. Letting go of limiting beliefs becomes easier when you educate yourself with financial books and use abundance affirmations to change your money mindset.
2. Educate Yourself About Finances
Being financially literate is the foundation of your financial success. You want to ensure your understanding of money is concrete. So, unless you’re already an expert, that means educating yourself by reading books about money and finance blogs. You will also find fantastic knowledge by listening to financial audiobooks and podcasts. Find which media is easily digestible for you and start consuming it.
3. Speak Daily Abundance Affirmations
Words have power, so stop saying things like “I’m so broke” or “I never have enough money.” You’re speaking those things into your existence or reinforcing their placement in your life. Please heed this warning with sincerity and stop it.
I used to say ignorant things like “I don’t really care about money” back in my wild days of buying rounds for my drinking buddies. And guess what? There were always lots of people helping me keep myself broke, saying and doing things like that.
Learn from my mistakes, and don’t challenge the universe. Watch your tongue and speak positive money affirmations over your life, such as “I always have more than enough money, and I live in financial abundance” and “My prosperity is limitless.”
If you love the Lord, say, “I am grateful for your financial empowerment and welcome blessings of abundance.” Or, “Wealth chooses me, Lord. Thank you for guiding my heart in your charitable giving.”
4. Determine Your Why
Changing the way you think about money is challenging, so determining and defining your “why” serves as a helpful reminder when facing difficult moments.
Define your values; what is most important to you? What do you want your life to look like? Do you want to retire early? Are you behind on retirement and need to build wealth? Do you have kids to send to college? Are you ready to value experiences over things and want to travel the world?
5. Commit to Your Success
Once you’ve established your why, you must commit to your success. There is no half-waying it. Put your all into the work it takes to frame your new understanding of money. A healthy financial mindset will take you places if you commit. You will spend wiser, save better, stop fearing money, find ways to invest, and feel happier because you’ll be less stressed about money.
6. Create a Financial Vision Board
What are your financial goals? Put them in front of you. Create a visual reminder of your why. Regularly looking at your vision board will reinforce your goals and motivate you to continue toward them. Be intentional with your financial goals, maintain focus, and celebrate your wins.
7. Embrace Your Fears
Change is good, but it often comes with fear—fear of failure or success. Embracing your fear can reduce stress, provide clarity, regulate emotions, and build self-confidence. Overcoming your fears can make handling life’s challenges easier, create resilience within, and help you avoid having regrets later in life.
8. Don’t Dwell on Past Financial Mistakes
Learn from them! Like anything else in life, you have to fail before you succeed. Stop beating yourself up about the poor decisions of your financial past. Choose to look forward instead.
Whenever I start with the negative self-talk and doubts, I say a quick prayer to refocus on what’s in front of me. Worrying is a bad habit and an enemy tactic that keeps you from achieving your dreams and being the best you can be. Tell that voice to shut it and take five deep breaths to calm any fear that creeps up immediately.
9. Stop Comparing Yourself
Don’t worry about what anyone else is doing, and stay focused on your financial goals. President Theodore Roosevelt said it best: “Comparison is the thief of joy.”
Between the constant bombardment of social media posts and targeted advertising, it can be challenging not to feel competitive, like you need to keep up. Don’t. Stay motivated by your goals and focused on the work in achieving them. Don’t get distracted by the shiny new penny.
10. Sleep With Abundance Affirmations on a Black Screen
One of my biggest successes in changing my money mindset has been changing my sleep routine. I said goodbye to reruns of The Office and hello to abundance affirmations. They are free for anyone to listen to on YouTube. Search “abundance affirmations with black screen” and reprogram your thinking while you sleep.
11. Be Grateful
Be grateful for the many blessings and money you already have to cultivate a positive financial mindset. My favorite way of practicing gratitude is by verbalizing it to God when I wake up, when I am washing my hands, or when I am driving down the road. Another beneficial practice is gratitude journaling. Write down the things you are grateful for while working toward obtaining more.
12. Be Charitable
I am a firm believer that if you give away some of your money, you’ll always have more than you started with. Scripturally, you are instructed to love your neighbor, the orphan, the widow, and your enemy. I’ve had several personal experiences where I felt prompted to give and immediately was blessed with more.
For example, once, I believed I was supposed to give the $50 I received for my birthday to a mission trip to build wells. I obeyed, and when I went to work that night, one of the cooks handed me a $100 bill for my birthday gift.
He spoke little English but told me it was for my birthday. I worked there for six years with him; that was the only birthday gift he ever gave me. God blesses giving hearts.
Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver. And God is able to make all grace abound to you, so that having all sufficiency in all things at all times, you may abound in every good work. — 2 Corinthians 9:7-9 ESV.
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Elizabeth Ervin helps people embrace a change in money mindset to achieve their financial goals. After struggling for a decade as a single mother, consumed by the American debt cycle, she recognizes the value of financial education and lifestyle changes and aspires to motivate others to make those changes to obtain financial freedom. She heavily advocates for praying about and over your finances and speaking positive money affirmations to manifest abundance.